Musk's sharp rebuke of Trump's tax bill sparks divide
Elon Musk has sharply criticized Donald Trump's tax bill, stating it increases the deficit and undermines efforts to cut costs. This marks the strongest public conflict between the billionaire and the president, whom Musk financially supported in the last election, according to the Financial Times.
Elon Musk, the former leader of the government efficiency team (known as DOGE), did not hold back in his critique of the Trump administration's new tax bill.
In an interview with CBS Sunday Morning, Musk described the bill as "massive," claiming it actually increases the U.S. budget deficit while undermining efforts aimed at savings and reducing expenditures, reports the Financial Times.
The bill recently passed unanimously through the House of Representatives and is awaiting a Senate vote. Trump has hailed it as "arguably the most significant piece of Legislation that will ever be signed in the History of our Country." However, independent analyses suggest the bill will increase public debt by more than $3.3 trillion (CAD 4.5 trillion) over the next decade.
Musk criticizes
Musk, who has long warned that the U.S. could face bankruptcy if the deficit isn't reduced, stresses that while the bill may be "big" or "beautiful," that doesn't ensure it can be both. His comments highlight the growing divide between him and Trump, who received nearly $300 (CAD 415) million in financial support from Musk during the last election.
Musk didn't hide his frustration with the administration's actions, calling key trade advisor Peter Navarro "a moron" and opposing certain personnel cuts in government agencies. After stepping down from the DOGE team last month, Musk announced he would focus more on his companies, such as Tesla and SpaceX.
Meanwhile, there are allegations that the DOGE team's supposed $2 (CAD 2.7) trillion savings were significantly exaggerated. A Financial Times investigation found that only a portion of these savings is confirmed, and the team's reports are riddled with errors and duplicates.
